Part of a package of seven bills to implement changes to the financial sector levy setting framework, the bill amends the

Life Insurance Supervisory Levy Imposition Act 1998

to: separate the life insurance supervisory levy into a restricted and an unrestricted component; increase the statutory upper limit for the restricted levy component set for the 2005-06 financial year; and alter the calculation of the indexation factor used to establish the statutory upper limits applying in later financial years. Also contains an application provision.

to: improve the Australian Government’s national liquid fuel emergency response arrangements; include the Australian Capital Territory as a legal entity within the terms of the Act; and update penalty provisions.

to: prohibit the export of live-stock for slaughter on or after 1 July 2014; and provide that export licence holders ensure all live-stock are treated satisfactorily prior to slaughter; and

Export Control Act 1982

to: prohibit the export of live-stock for slaughter unless the secretary is satisfied that the live-stock will be treated satisfactorily prior to slaughter; and prohibit the export of live-stock for slaughter on or after 1 July 2014.